16 september 2022 | Trades | CEOs

Adobe reached a $20 billion deal to buy Figma

The Adobe company, which is one of the leading global software developers and providers, announced on Thursday its intention to buy Figma, an online service for design. The acquisition was estimated at $20 billion. This deal has taken place in the circumstances of a noticeable cooling of merging within technological industries.

As it is shown by the data provided by Crunchbase, the Figma company, which started its work 10 years ago, has got funding of about $332 billion, and its total value was estimated to be of $10 billion last year. The most well-known and important feature of the company’s service is the provision of possibility for collaborative online work through simultaneous access of several users to same files which they can edit at the same time.

As it was said by Danny Rimer, a partner at the venture capital firm Index Ventures (the main supporter of Figma), the deal had taken place within the industry which is currently lacking active actions with regard to technological companies in general. According to his statement, the current process reflects Figma’s capability in business, and also the advantages won by the uniting of Adobe and Figma, as well as the skills of the executive team.

The purchase of Figma has occurred during a period of decline in the sphere of dealmaking and a general decreasing of technological companies’ values, which is linked to the growing concerns about a possible recession. According to the information received from the Dealogic company, the value of deals has significantly declined in the U.S. this year in comparison with the previous year’s results, with the current year’s figures being $1.2 billion against $2 billion registered last year.

The chief executive at Adobe, Shantanu Narayen, has made a statement on the purchase of Figma by Adobe. He told about the origins of the company’s greatness, which comes from the company’s ability to invent previously undiscovered categories and develop next-gen technologies through organic innovation and inorganic acquisitions. He has specifically noted that the cooperation between Adobe and Figma would be revolutionary, as it would change the perception of collaborative work.

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